During her three years at Rivalry, Tersigni contributed to the company’s impressive growth as it prepares for another successful year. The former Director of Product’s time with the operator was a significant boon to her career, seeing her reach new professional heights. Tersigni did not share any specific plans going forward but used the opportunity to thank her colleagues, expressing confidence in Rivalry’s enduring success.

Rivalry Benefited from Tersigni’s Diverse Expertise

Amanda Tersigni commenced her journey with Rivalry in December 2020, initially joining as a Product Manager. Before her stint with the esports betting operator, she held significant product-focused positions across Toronto. Notable among these were roles at Achievers, a software development firm, where she worked as a Senior Technical Product Manager, helping deliver sustainable, data-driven business results.

Her other notable experience includes positions in UpHabit, Yulio Technologies, and Pixel Tours, businesses centered around innovative design and emerging technologies. Such diverse expertise was the perfect launching point for her career at Rivalry, allowing her to fully immerse herself in a new and exciting industry where she could further hone her skills.

The journey at Rivalry.com was filled with amazing growth and challenges that helped me evolve, both personally and professionally in ways that I never could have anticipated.

Amanda Tersigni

Demonstrating her proficiency and commitment, Tersigni rapidly ascended within Rivalry’s ranks. By December 2021, she had risen to Senior Product Manager. This ascent continued as she assumed the role of Director of Product in June 2023, signifying her growing influence and leadership within the organization. Her contributions helped propel Rivalry during the company’s most successful period.

The Company Is Well-Positioned for Further Growth

Despite not disclosing her next career move, Tersigni announced her departure from Rivalry, showing gratitude for her personal and professional growth and evolution during her tenure. In her LinkedIn post, she reflected on her exciting time with the company, expressing confidence in Rivalry’s team and foreseeing remarkable achievements in the coming years.

The operator had a stellar 2023, achieving several milestone successes. November saw the company secure a CAD 14 million (roughly $10.23 million) investment for an undisclosed existing institutional shareholder, intended to fund general working capital and corporate purposes. This boost should further bolster Rivalry’s impressive momentum, helping secure its market position amidst growing competition.

The departure of Amanda Tersigni marks a transition for both her and Rivalry, underlining a period of evolution and development for the organization. Her impactful contributions and leadership will undoubtedly resonate with the company’s future endeavors as it maintains its focus on customer engagement and satisfaction via exciting new developments.

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Rivalry, a leading iGaming and online sports betting company, has secured a CAD 14 million (roughly $10.23 million) investment for an undisclosed existing institutional shareholder.

The agreement represents a non–brokered private placement offering of convertible debentures under which each convertible debenture will consist of CAD 1,000 principal amount of 10% senior secured convertible debentures of the Company, maturing on November 14, 2027.

The convertible debentures will bear interest from the date of issue at 10% a year and will be payable in cash quarterly arrears on March 30, June 30, September 30 and December 30 of each year.

Rivalry also noted that additional tranches of the non-brokered private placement offering may close for aggregate gross proceeds of up to CAD 27,500,000.

All securities connected to the offering will be subject to a hold period of four months. The securities have not been and will not be registered under the US Securities Act of 1933.

The Money Will Help Rivalry Strengthen Its Business

Rivalry announced that the net proceeds received through this arrangement will be used to fund general working capital and corporate purposes.

Stephen Salz, Rivalry’s co-founder & chief executive officer, commented on the investment, saying that his team is very pleased to have secured support from a long-standing institutional shareholder.

Salz noted that the company’s unique product mix and market position allowed it to reach its current “inflection point.” He is confident in Rivalry’s position and expects the company to further bolster its profitability in the first half of 2024.

Commenting on the new investment, Salz said:

The capital will enable Rivalry to accelerate the development and release of new products, expand marketing efforts, and extend into new geographies and verticals, setting us on a path where we can pursue growth and profitability at the same time.

Stephen Salz, co-founder & CEO, Rivalry

In other news, Rivalry just bolstered its product mix with the launch of Rivalry Ultimate Fan, a brand-new fantasy sports game focused on the National Basketball Association. The game allows fans to build their dream team while also collecting real-life NBA merchandise.

A month ago, Rivalry also added a branded slots category to its Casino.exe platform. The move sought to capitalize on the popularity of online slots to help the operator reinforce its business while still appealing to Millennial and Gen Z players.

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Prominent sportsbook and iGaming operator Rivalry Corp unveiled a groundbreaking casino title named ‘Cash & Dash.’ Developed in-house by Rivalry’s games team, this innovative offering aims to transform the online casino experience, catering to the next generation of bettors. This newest release perfectly aligns with the operator’s long-term plans and should bolster its impressive momentum.

Live Service Features Guarantee Enduring Popularity

Cash & Dash is a 3D casino game immersing players in a high-stakes heist scenario. Users assume the role of daring infiltrators navigating a high-security bank while avoiding deadly obstacles. The objective is to steal the treasure and make a successful escape. To add excitement, players place bets at the beginning of each round, with multipliers increasing their winnings as they progress deeper into the building.

One standout feature of Cash & Dash is the incorporation of Rivalry’s original intellectual property (IP) as playable characters. This integration connects the gaming loop with Rivalry’s brand and marketing efforts, creating a cohesive and engaging user experience. Senior Product Manager Andre Nogueira was confident the title would provide a unique experience, capturing younger audiences.

We’ve incorporated mechanics from the games industry to add a layer of entertainment value to the casino experience that resonates with our Millennial and Gen Z audience.

Andre Nogueira, Rivalry Corp Senior Product Manager

Cash & Dash operates as a live-service game, ensuring players enjoy a dynamic gaming experience. Future updates and expansions will introduce additional content and rewards, including new playable characters, custom maps, consumable items, and more. Rivalry also plans to host limited-time events, collaborating with creator partners to boost player engagement and awareness.

The Title Should Further Bolster Rivalry’s Success

Cash & Dash was crafted by Rivalry’s skilled game developers, designers, and motion artists. These experts leveraged their experience working on video games for renowned publishers and studios like Xbox, Nintendo, and Ubisoft, delivering a unique online betting product. Cash & Dash is accessible on desktop and mobile in select regions and will soon expand to Rivalry’s global markets.

This latest release perfectly aligns with Rivalry’s ambition to offer a unique and exclusive betting experience at a time when most sportsbooks look and feel the same. The company’s innovative mindset has resulted in spectacular growth with a 60% year-on-year increase in Q2 revenue. Rivalry Co-Founder and CEO Steven Salz was confident that the operator’s vision would deliver enduring success.

We see a growing opportunity to create betting products that are strikingly fun, interactive, and engaging, and our original games are a big step in that direction.

Steven Salz, Rivalry Co-Founder and CEO

With the launch of ‘Cash & Dash,’ Rivalry Corp demonstrates its dedication to serving the unique preferences of Millennials and Gen Z bettors. This original title elevates the online casino experience and strengthens Rivalry’s brand identity. As the gaming industry continues to evolve, the operator remains well-positioned to capitalize on the next generation of bettors through cutting-edge entertainment.

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The Millennial and Gen Z-oriented company will further tap into its target audience thanks to the mobile launch of Casino.exe, now accessible through Rivalry’s iOS mobile app in Ontario.

Casino.exe is Rivalry’s proprietary casino platform that is designed to appeal to younger players by evoking a sense of nostalgia and offering products young people care about. Now incorporated into Rivalry’s recently launched app, the platform will provide a variety of gaming products in addition to Rivalry’s usual online sports and esports betting offerings.

Since its launch in Ontario in May 2023, the Rivalry mobile app has bolstered its parent company’s total betting handle by 15% month-on-month. In addition to that, the app helped the company channel many new players toward its platform.

The addition of Casino.exe will allow Rivalry to also appeal to fans of iGaming, engaging them with a variety of products. To celebrate the launch, the company has added eight new games to the Casino.exe lineup, including new game show-styled games, table games and instant products.

Rivalry will continue to add more games and features to the Casino.exe platform as it seeks to “add depth and exclusivity” to its product portfolio.

Salz Hopes the Enhanced App Will Drive More Interest from Players

Rivalry’s co-founder and chief executive officer, Steven Salz, commented on the matter. He said that the launch of Casino.exe has been a major development for his team, allowing Rivalry to diversify its revenue mix while increasing its overall handle.

Salz attributed the growth of Rivalry’s products to the company’s emphasis on technology and design innovation. Thanks to this, Rivalry is able to “drive organic interest and activity in casino with limited marketing spend.”

Speaking of the current development, the CEO said that it will improve the accessibility of the Casino.exe platform, allowing the company to reach more people. According to him, Casino.exe is an example of how online gaming and betting can be improved to appeal to certain demographics.

Casino.exe has put a stake in the ground for the future of online casinos and how the industry can push the traditional online betting experience toward something much more fun and engaging for a demographic that demands it.

Steven Salz, co-founder & CEO, Rivalry

Salz concluded that his team is excited by the opportunity to reach more customers in Ontario. He promised that his team would continue to expand its casino product suite.

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Esports betting specialist Rivalry has published its Q2 2023 report, highlighting another favorable quarter. The gaming and sports betting operator reported a spectacular increase in handle and updated its guidance.

Rivalry reported record-breaking Q2 revenue of roughly $6.4 million (converted to USD from CAD). This represents a remarkable 60% increase from Q2 2022, demonstrating the company’s resilience.

During the second quarter of the year, Rivalry recorded an impressive handle of $82.6 million. This figure notably represents a whopping 192% year-on-year increase for the company.

At the same time, marketing spend was reduced by 6% year-on-year.

Rivalry reported that its casino business helped it offset the seasonal slowdown of the esports segment, adding an extra $42.3 million in handle.

Gross profit for the period was $2.8 million, representing an 86% year-on-year increase. Net loss, on the other hand, sat at $4.6 million, remaining more or less the same as in Q2 2022 when the company recorded a loss of $4.5 million. Operational expenses also remained nearly flat.

At the end of June 30, 2023, Rivalry had $10.3 million in cash and no outstanding debts.

Salz Is Excited about the Performance

The favorable results caused Rivalry to update its FY guidance. Steven Salz, the company’s co-founder and chief executive officer, attributed the favorable results in Q2 to multiple improvements to the company’s business, including increased marketing sophistication and enhancements to its core product.

Salz teased that the company plans to release a number of products in Q3 that are expected to further boost its business. He promised that Rivalry has “barely scratched the surface” of its product roadmap and is confident in its potential to appeal to younger players.

While the volatility of the market continues to be a challenge to the company, it also provided Rivalry with the opportunity to learn more about the sector and its competitors.

Our position among young Millennial and Gen Z customers represents one of our greatest competitive advantages, but has also presented unique learnings regarding betting behaviors.

Steven Salz, CEO, Rivalry

Salz noted that the learnings and ongoing adjustments to the company’s business are expected to reduce volatility, positively impact bottom-line results and “propel” the company to profitability.

In other news, Rivalry recently introduced same-game parlays and launched a mobile esports app in Ontario.

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Rivalry, an international sports betting and media company will receive $7.34 million (converted to USD) in funding through a new financing round. To that end, the company will issue up to 6,666,666 subordinate voting shares at a price of $1.10 each.

The funding round will be led by Pinnacle and will feature a variety of tech and payment shareholders. Rivalry will use the proceeds to speed up its operational objectives and pursue further strategic growth opportunities.

The funding round follows 2+ years of record-breaking financial results for the company. Rivalry’s progress has seen it average double-digit month-on-month revenue growth. The company targets mainly Millennial and Gen Z customers, who make up 97% of its users. The company’s appeal among younger audiences can be attributed to its cutting-edge esports betting products.

The funding round and the issuing of extra shares, Rivalry said, are still subject to corporate and regulatory approvals. Rivalry added that securities issued in connection with the offering will be subject to a hold period of 4 months and a day.

Rivalry Is Glad to Have Pinnacle by Its Side

Steven Salz, Rivalry’s co-founder and chief executive officer, commented on the funding round. He noted that the participation of so many stakeholders in the round represents a “vote of confidence” in Rivalry’s unique team, market strategy and ability to evolve.

Salz also noted that his company’s industry-leading platform is built around a generational opportunity to interact with and engage a new generation of bettors and sports fans with exciting content.

We are growing rapidly with a successful strategy in place and talented team behind us, and with this funding we anticipate both continuing our pace of growth and our trend toward profitability.

Steven Salz, co-founder & CEO, Rivalry

Speaking of Rivalry’s relationship with Pinnacle, Salz said that the latter company’s esports and risk management solutions have proven integral to the Rivalry experience. He thanked Pinnacle for its commitment to supporting the financing round, saying that it will add a layer of credibility to Rivalry’s approach.

Pinnacle’s chief executive officer, Paris Smith, also spoke on the matter, saying that his company is always on the lookout for partners that share its values. He said that this is exactly what led him and his team to Rivalry.

The company’s long-time focus on product innovation, brand equity, and next-generation consumers is disrupting traditional ways of thinking in the industry and blazing a trail for industry economics that were previously not thought possible.

Paris Smith, CEO, Pinnacle

Smith said that Pinnacle has a front-row seat to follow Rivalry’s “incredible growth.” He concluded that he is confident in the latter company’s trajectory.

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Regulated media and sports betting company, Rivalry, confirmed the launch of its casino product in its home market in Ontario, Canada. The company said Wednesday that Casino.exe, its interactive casino platform, will debut in Ontario, featuring a total of 8 casino games.

Rivalry has identified the potential of the iGaming vertical and has been continuously growing this segment of its operations. Last summer, the company announced the launch of Aviator, its first-ever third-party casino game. More recently, Rivalry confirmed the addition of live dealer games and as well as table games. The expansion of casino offerings included games such as Roulette, Blackjack and more.

It didn’t take long for the company to see the benefits of the casino segment. Since the launch of casino games, the company reported that the casino segment was responsible for 15% of its revenue, as well as 30% of its betting handle for the third quarter of 2022. At the same time, Rivalry noted that those results came after “minimal marketing efforts.”

The Company Remains Focused On Growth

Besides the launch of its interactive casino platform, Rivalry confirmed plans for further growth within the market in Ontario. In addition to the platform, the company said that it plans to strengthen its presence and offering by launching a mobile app as well.

“Launching our casino experience with a proven product that we’ve validated in our other markets is an exciting next step as we continue to grow our reach and offering in Ontario.“

Steven Salz, co-founder and CEO of Rivalry

Steven Salz, Rivalry’s co-founder and CEO, explained that launching in Ontario represents another major step for the company that has been continuously growing its presence. According to him, the company’s interactive casino platform delivers engaging, proprietary and interactive experiences for the customers within the market. Salz added that this, in turn, helps Rivalry stand out from the competition in the region.

The co-founder and CEO added that the company focused on prioritizing user experience, design and targeting specific audiences. Finally, Salz said that Rivalry remains committed to driving innovation within the vertical via new customer experiences and supreme entertainment offered through its platform.

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